Business News

Wall St. falls as oil tumbles, tech rebound peters out

U.S. stocks extended their losses in early afternoon trading on Tuesday, slipping from record levels, as a sharp drop in oil prices squeezed energy stocks and a rebound in technology shares faded out.Oil prices nosedived to seven-month lows after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and other producers to support the market through reduced output. [O/R...

20 Jun 6:39 PM 0 Read More...

Boeing gets boost from United and lifts demand forecast

PARIS Boeing won a key endorsement from United Airlines for the latest model of its best-selling 737 on Tuesday and struck an upbeat tone by raising its 20-year industry demand forecast despite signs the pace of growth is slowing.A day after the launch of the 737 MAX 10 at the world's biggest air show in Paris, United said it would convert an order for 100 other 737 MAX planes to the new model.Gerry Laderman, Uni...

20 Jun 6:39 PM 0 Read More...

Wall St. set to open flat as fall in oil prices weigh

U.S. stocks looked set to open little changed on Tuesday, a day after the S&P 500 and Dow Jones Industrial Average hit record highs, as oil prices fell to seven-month lows.Oil prices dropped after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output. [O/R]Oil majors Chevron (CVX.N) and Exxon (XOM.N)...

20 Jun 1:35 PM 0 Read More...

Boeing lifts 20-year industry demand forecast to $6 trillion

PARIS Boeing raised its 20-year industry forecast for passenger and freight plane deliveries by 4 percent on Tuesday, though executives at the world's biggest airshow in Paris expect demand this year to cool from recent red-hot levels. The U.S. planemaker continued to rack up orders at the Paris Airshow for a new model of its best-selling 737 aircraft, which was launched on Monday amid a flurry of deals.Leasing f...

20 Jun 1:35 PM 0 Read More...

Oil prices hit seven-month lows on global oversupply

LONDON Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and others to support the market through reduced output.Benchmark Brent LCOc1 dropped $1.29 to a low of $45.62 a barrel, its weakest since Nov. 15, two weeks before OPEC and other producers agreed to cut output by 1.8 million barrels per day (bpd) for six m...

20 Jun 1:35 PM 0 Read More...

Whole Foods CEO hints at another brand under Amazon

After Amazon.com Inc (AMZN.O) completes its takeover of high-end grocer Whole Foods Market Inc WMF.O, it might launch another brand with different standards, the grocery chain's chief executive said in remarks reported in a securities filing on Monday.Amazon plans to keep the natural grocer's high standards, Whole Foods Chief Executive John Mackey said, adding, "They’re not stupid enough to go change tha...

20 Jun 1:35 PM 0 Read More...

Pamplona Capital to take Parexel private for $4.5 billion

U.S. pharmaceutical research services provider Parexel International Corp (PRXL.O) said on Tuesday it would be taken private by Pamplona Capital Management LLP in a $4.5 billion deal.Activist investors, including Starboard Value LP, have put pressure on Parexel to explore a sale, arguing that the company's profit margins have consistently lagged those of its peers.Pamplona will pay $88.10 per share in cash for Pa...

20 Jun 1:35 PM 0 Read More...

Asia shares near two-year high as U.S. hi-tech rebound boosts mood

TOKYO Japan's Nikkei rose more than 1 percent to a near two-year high on Tuesday, encouraged by rebound in U.S. hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.European shares seen extending gains, with spread-betters expecting Germany's DAX to rise 0.2 percent from Monday's record closing high. France's CAC is expected to open 0.3 percent higher while Britain's FTSE ...

20 Jun 8:31 AM 0 Read More...

Will McDonald's customers wait for the new Quarter Pounder?

LOS ANGELES/DALLAS Tracy Moore grew impatient as she waited for a Quarter Pounder recently in the parking lot of a McDonald's restaurant in central Dallas. The burger, made with fresh beef and billed as hotter and juicer than the original made from a frozen patty, is part of the company's effort to serve tastier food. But after about four minutes, it was Moore who was steamed. Like other customers who'd ordered t...

20 Jun 8:31 AM 0 Read More...

Nikkei nears two-year high as U.S. hi-tech rebound boosts mood

TOKYO Japan's Nikkei rose more than 1 percent to hit a near two-year high on Tuesday following a rebound in U.S. hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade.A big focus for Asia is whether index provider MSCI will later in the day open up its Emerging Markets Index to Chin...

20 Jun 3:29 AM 0 Read More...